Quotation board printing unit



Oct. 11, 1932. R. HOOVER ET-AL QUOTATION BOARD PRINTING UNIT Filed May4; 1951 4 Sheets-Sheet 1 FIG. 4

FIG. I

fi l\ m m iiii ow A no 7 5 RE F H H H H L L w J .W J m m IMW TW- I I u.w W 4 I 15 68 6 U mwflffi .L B?- W6 I n|/. V Mm M I l ll llll Oct. 11,1932. R. HOOVER ET AL QUOTATION BOARD PRINTING. UNIT 4 Sheets-Shet 2Filed May 4, 1931 FIG. 2

avwantozs R H 00V E R E.R.WHEELER 5M {.Gdm

Oct. 11, 1932. HOOVER ET AL QUOTATION BOARD PRINTING UNIT Filed May 4.1931 4 Sheets-Sheet 3 FIG. 3

anveuto'zs R. HOOVER E.R.WHEEL.ER

Oct, 11, 1932. R, HOOVER ET AL 1,881,585

QUOTATION BOARD I PRINTING UNIT Filed May 4, 1951 4 Sheets-Sheet 4 {TORANGE SELECTOR HIGH E f LOW' FIG. 8

TENS

UNITS FRACTIONS TO STOCK SELECTOR TO A.G.

I awuentozs R. HOOVER E E. R. WHEELER I36 33 Gum,

y a (76 m Patented Oct. 11, 1932 ,L UNlTED STATES PATENT OFFICE RAYHOOVER AND EVAN R. WHEELER, OF NORTH IIlAINFIELD, NEW JERSEY, ASSIGN-ORS TO THE WESTERN UNION TELEGRAPH COMPANY, OF NEW YORK, N. Y., A

oonrone'rron or NE YORK QUOTATION BOARD PRINTING UNIT Appl ication filedMay 4,

This invention relates to a quotation board mechanism for automaticallyprinting in visible form information concerning difierent items, such asstock, bond, and commodity quotations in response to telegraphicsignals, and more particularly to apparatus which inaddition todisplaying information of the usual character, such as quoted marketvalue,

can, when desirable be operated'to indicate 'matically posting stockquotations at a plurality ot' separate places, such as brokers otficesand banks, tr m a common transmitting point, involves the use of fourchannels of communication extending between the transmitting station andthe receiving station embodying the quotation board apparatus, separatechannels being employed to transmit signals correspondingto each of thehundreds, tens, units, and fractions (in eighths) value or digits of thequotations. The tour transmitting channels may comprise four separateline wires or two line wires, each having'battery of positive andnegative polarity applied alternately thereto in a series of impulses,in conjunction with polarized relays at the receiving station forresponding to the polarity of the current transmission from adistantinitial orsendingstationmay be accomplished over a single wire to alocal decoder or repeater station from which the various channels orlmpulses 1931. Serial No. 535,065.

are separated and sent out to the various quotation boards. Or again thesingle wire may go directly to the subscribers cabinet'where a decoderseparates signal channels and transmits them to the quotation boardmechanism in the usual manner.

Quotation boards as heretofore constructed employ a group of fourindicating units,

each having a dial or drum bearing the nu merals 1 to 9, O and a blank,four units being disposed side by side behind suitable apertures so thatwhen properly set up the numerals on the dials may be directly observedto give the quotation. Ordinarily, five of such groups of indicators areprovided for each stock or item, corresponding to the quotation rangeschosen to be posted, such as yesterdays close, open, high, low, and lastquotations of the stock, and signals are transmitted to the quotationboard to operate these at appropriate times. On the other hand, thenumber of range signals transmitted is by no means limited to five.Other signals representing any combination of the above ranges orsignals to indicate bid, ask, up, and down or any other desirable rangeor other information may be transmitted.

In an arrangement described and claimed and apparatus, filed May 9,1930, Ser. No.

451,1t0, and assigned to WVestern Union Telegraph Company, it has beenproposed to use,

in place of one or more of the five range groups of indicators providedfor each stock. a printing unit which shall make the information visiblein printed form on a paper tape or other sheet material. Ordinarily thegroup of indicators corresponding to the last quotation will bedisplaced by the printing unit. This arrangement enables the consecutivequotations to be kept in viewfor an extended length of time as newquotations are being printed on the tape, and thus indicate what istermed the trend of the stock being quoted upon.

It will be observed that in the quotation board system as abovedescribed, there is included among the groups of indicators for high andlow ranges.

vconsecutive quotatlons occur in printed form,

thevarious stock ranges a group for the However, when as for instance,on a strip or tape of paper,

a person referring to the information displayed'thereon inorder tocasce-rtain tlie trend of the stock being quoted upon, would 11nd thatthe information would be more useful if there were means printedon thetape ior in dicaiting sech-quotationsas represented a new high or a newlow a bid or asked or other speclal value. Although each new high, low,bid, or asked or other value could be indicated .in.a systemhaving therequired number. of stock range indispecial-value. For accomplishingthis asuitable arrangement may be employed for dis- ,phi-yliing acharacter indicating such information :along with the zchara ctersindicating the value of theiquotation. 1 v More particularly, therefore,it is .an obejectof our ainventionto provide :a quotation board unitadapted to be used in a sysitemv'such as described in the-abovementioned applications which will have means to display an indication"along with the quotation -;displayed :by ssuch unit, which will signiiythat the quotation is of an unueuaioharacter, filor e'aanaple, thatitrepresents anew high :a new low, a bid, or asked or other quotationofspecialsignificanceior value.

This :may be accomplished in aprinting nnitby providingan arrangement,for mounting an H, L, a B or-a-n A or other character so that they mayhe moved into printing position and by providingv electromagneticactuating means responsive to .the

. h low or other special range selectingsignail to selectively bring anydesired character tlnto (print-in g -position. I ,Thererore anotherOb]6.Ct of our invention is to FP'IlQViCiG inn printing unit means toprint an H, L, B,Aor other spccialchan lacter with or :as :a part eofthe quotation, and which an ay be selectively brought into action toprint a predetermined one of .thespecia-l characters to designate (therai-ige -01" any zetherspeciad characteristic of the quotation,

displayed.

.Still another object is to provide a mechanism responsive to certainselective signal impulses for causing a predetermlned specialcharacterto be printed.

A stillfurther object is to provide a special control arrangement-vvhich willact in response to certain rangezsignal impulses to effectprinting from the special characters simultaneously with the printing ofthe nu1ner- 'ical characters. 7 i These and other objects areefl'ectedicy our invention,=a:s will be apparent 'iirom 'the followingdescription and claims taken in connection with the accompanyingdrawings .which .form apart of this application, in which: I

= Fig. l is a viewi-n elevation of the front of the itype pninting unit:showingithe tape "carrying elements; 7. 7

Fig. :2 is a View in elevation :of the side of the printing unit showingthe mechanism employed to print the special type characters Fig. -3 isaside elevation of the type Wheel unit employed *for printing thenumerical characters;

Fig. 4 .is a.-side;eleuation "of the opposite side of the type wheel tothat shown in 3, showing the control commutator arrangement; r Fig, 5.is a view in plan of .a part of the type wheel unit showing the relationozf the special character mechanism to the adjacent rt-ype wheeliunit; 1

' Fig.6 is a diagrammatic view in elevation 'oia modification of ourinvention showing the special type characters carried on .a singleelement;

Fig. 7 is :adiagrammatic view ofasection of a quotation iboardillustratingthe quotations as :they :are printed on the tape and Fig.8is a circuit -.diagram for "the printing unitshowing only the portionimmediately associated @therewiith. j

:the quotation board systern 'describedin our :aitorelnentioned:copending application entitled, Electrical selecting and indicatingsystem, :a :train of signal impulses comprising three groups is employedto operate the quotation boardapparatusrfor properly posting eachquotation. Thesignal train comiprises .a selector group which selectsthe group of indicators in the quotation board allotted to the stock orcommodity being c uoted upon and which :turther selects the proper rangeindicator, such as yesterdayh close, high, low -etc., a restorationgroup for bringing theisel ected indicators to a unison position, and ananswei group for setting up the quotation on the indicators.

According to the'present .inventi'on we propose to 'use'the same typeiofsignal .train to op- :erate the printing unit. -=Oneor-1nore of thedigits representing the numerical pant ofa quotation is set up andprinted by .a group of type wheels in substantially the same.-ma.-1-i-ner [as describedin-the aforesaid Hooverfet al. ap-

stituted for the last range indicator.

cluded in the selector group of the signal impulse train for the purposeof selecting the high, low or other set of range indicators in thesystem described in our aforesaid application. In our present inventionthis signal selects, in addition to the indicators, a circuit which willcause the special type character to be set up in printing position,according to whether the selecting signal is one which selects the high,low or other set of indicators. After being set up the special typecharacter remains in printing position until after printing is effected.In the description of our invention a quotation board arrangement usingspecial characters to designate the high and low range values only hasbeen chosen as illustrative of the principles involved. The charactersmost commonly used are the letters H and L and these are used in thedescription. It is to be understood, however, that any other agreedsymbols may be used instead of H and L to designate the range values.

Referring now to the drawings we show in Figs. 1, 2,'and 5 the preferredform of the printing unit 10 in which a plurality of type wheel units 11are employed forprinting the numerical-value of the quotation, and aspecial arrangement employing type carrying sectors 12 and 13forprinting H or L, in addition to the numerical characters when suchquotation represents a high or low value.

L. This mechanism includes, in its pre ferred form, the pair of sectors12 and 13 pivotally mounted on the shaft 14, which shaft. also passesthrough the axis of the i type wheels. The sector 12 is arranged tocarry theletter H on a face formed at the outer endthereof and thesector 13 the letter L on a face at theouter end thereof. The sectorsare arranged to carry their charactors in line with characters on therim of the type wheels, or in such position that when the sectors areset in printin aosition the characters will be on substantially an evenline with the characters presented by the type wheels. A pair ofoperating magnets 15 and 16, one for each sector, are supported at theouter end of a framework 17 and are arranged to swing the type carryingsectors into and out of printing position. The magnets 15 and 16 eachhave similar, pivotally mounted'armatures 18 and 19 joined respectivelyto arms 21 and 22 extending back toward the axis of the sectors 12 and13. The

sectors have arms 23 and 24 extending from the pivotal axis of thesectors to engage the actuating arm of the respective magnets. Theactuating arm of each magnet and the arm of the corresponding sector areoperatively connected together by a pin 25 and slot 26 or other suitableconnection.

The H type character is carried by the sector 12 normally held towardthe front of the quotation board when out of printing position and isconnected through the arms 23 and 21 to the actuating armature 18 of theupper magnet. The type character L is carried by the sector 13 normallyheld away from the front of the quotation board when 3 it is innon-printing position and is connected through the arms 24 and 22 to theactuating armature 19 of the lower magnet.

The arrangement is such that when one of the magnets is selected, itreceives an operating impulse which causes the armature to be drawninwardly toward the core of the magnet carrying the actuating arm upwardor downward, as the case may be, which corresponding type carryingsector with it and rotates the sector about its pivoted aXis to bringthe sameinto vertical position presenting the type character on linewith the characters of the type wheels. At the outer end of each typesector is a projecting lug or arm 27 which engages a notch 28 in a dog29 carried by a rack member 31 and held down by a spring 32. The notcheddog 29 is arranged to hold the type carrying sector 12 or 13 in avertical position against the tension of a spring 33 tending to returnthe actuating arm 21 or 22 to normal position. The dog is arranged tomaintain the sector in a vertical position until the rack 31 is movedupward against the tension of the spring 32 allowing the lug 27 toescape; This rack is moved to disengage the dog by the printingmechanism at the end of each printing operation, as will be presentlyexplained.

Any suitable type of type wheel may be employed for printing numericalpart of the quotation. For the purpose of illustration, We have shown inFigs. 1, 3, 4 and 5.

type wheel units similar to that described and claimed in thecopending'application of R. Hoover entitled Stock quotation boards.filed April 3. 1931. Serial No. 527.588, and assigned to The lVesternUnion Telegraph Company. Each unit comprises a framework 35, a typewheel 36 carried at one end of the framework, and an operating magnet 37carried at the other end of the framework. The type wheel 36 isrotatably supported on a hollow sleeve member 38 exste'mlinggfbetweenthe side'sgil and 4. 1501 the framework.

,carrying sectors 12 and The sleeve inember'. 38 surrounds the shaftorstay rod member Meir tending between thexsiicles 43 and 44 of theprinting unit housing. 'lhe stay rod 14 also forms the pivotal axis ofthe special type A ratchet Wheel 4'5 is mounted. co-axially with'thetype wheel atone side thereof and a control commutabrushes 47 and 481atthe other side thereof,

tor 46 (Fig. 4%) with suitably connected 7 both being operativelyconnected to the type wheel. p

Each type wheel has eleven flat faces formed on its rim. Ten of thefaces bear the numerical characters 1 1509. and .0, one

of the faces being blank. The :type'wheel rotates in a counterclockwisedirection as viewed in Fig. 33;, and is rotated in a step by stepmovement produced by means of a pawl arm operated bythe actuating magnet37 and a. pair of pallets '52 and 53 car- I a ried by the pawl arm whichalternately engage the teeth on opposite sides of the ratch et wheel 45.l V 1 When it is desired to print from the type wheels they may befirstrestored to a predetermined unison position, which is, preferably, withthe blank'face of the type wheel in printing position, and then set inthe cor "rectposition'for printing the'desired char- I acter bytransmitting to each operating magnet a number of impulses equivalent tothe number of the digit which it is desired to print from thecorresponding type wheels. It is obvious that the mechanism asheretofore described for supporting the various characters and movingthem into printing position, such mechanism including type wheelsbearing the numerical characters and the sectors bearing the letters Hand L', will serve equally to bring the desired'characters into displayposition before apertures provi-d' ed in' a display panel as forsettingthe characters nto; printing-position 111 a printingunit. To employ themechanism in a display or indicator unit it would be necessary merely todispose the special type carry ing sectors or bars so that the desiredspecial character will be moved into position before an aperture in,a,display panel when 'oper-' ated by the proper signal. The type'wheelsalso can'be adapted for such use by 'I'nerely so disposing thecommutator and character wheel that when the wheel is set in the'unisonposition of the wheel and'the display position of the character's,therewill occur suitable apertures in the display panel in-- stead ofbefore theprinting platen of the printing unit as hereinafter describedv The quotations are printed'on a record tape 54:,sl1ownin Figs. 1 and2. 'Itis preferably a strip of'paper of suificient width to receive thedesirednurnber of characters representing the quotation. It may hesupplied from a roll 355 suitably mounted between the sides oiitheprintingunit housing. From the supply roller it. passes oyerameteringroller 56, thence overan idler roller .57, through an openingor slot 58. tothe froirt. of the (piotation board. The metering rollerand 'idler roller are arranged to hold asection of theztape: 54in a.substantially horizontal position between the printlength of the recordtape after each print .ing-operation and is accomplished by means 10fthe roller being provided with a :circu lk ference of a suitahie size tofeed out the tape until the last quotation imprinted thereon appears inview at the front of. the quotation heard; The other function of themetering roller is that of lifting'the. rack '31 to unl ck the specialtype carrying sec-tor arm 21'; from the notched dog 29 iw'hen either Hor has been printed. This is accomplished by means. of a pin 59 carriedby the metering roller which strikes the lowerend 61 or the rack .31asthemetering roller begins to re.- vlolve.

The printing mechanism, referred to above,

.lrc

comprises a series of platen blocks eI1- gaged by a universal bar eawhich .is in turn secured to the plunger 65 of the solenoid 66 supportedon a plate 67 carried by the hous ing. When the solenoid is actuated thecore or plunger raises the universal bar and causes the'platens to carrythe record tape 5411p against the type characters, which have been setin printing position, and imprint the quotation from the typelcharacters on the tape. .After imprinting the quotation on the Irecordtlape, the platen and plungerof the solenoid are returned to theirnormal position by means of a retractable spring .68.

During the return of the plunger 65. to

normal position a series of mechanisms, 1:

shown inFigs. l and 2 'is operated which releases, themetering rollerandpermits it to rotatea complete revolution in response to tension set upin a lower section ofthe tape by means of th'e take-up or receivingroller of a windin-gmechanismnot shown. Itwill be observed, byreferringto Fig. 2,:thatthe metering roller is provided at one end witha stop cam 71 which is arrangedto permit the metering roller tomake onlyone revolution at a time. The cam has an inclined face portion-ZQJterminating with a shoulder 7 4.

A stop arm '7 5 is provided to rest against the shoulder 74:and-restrain the movement of the metering roller against the tensioninclined face 78. A shoulder 79 is formed at the inner extremity of theinclined face. A spring 81 holds the stop arm normally in contact withthe cam.

, A lever 82 is mounted on the bracket 77, pivoted at 83, and isarranged to be actuated by the movement of the solenoid plunger as itcarries the platens upward during the operation of printing. The leftend of the lever 82has a pivotally mounted click or dog 84 securedthereto and held against a stop pin 85 by means of a spring 86. Theouter end of'the dog is arranged to normally rest in the notch'orshoulder 79 of the lower end of the stop arm.

Upon an upward movement of the solenoid plunger, the left end of thelever 82 will swing downward and the dog or click 84 will slide off theshoulder 79 and click over into.

contact with the inclined face 78 of the stop arm. Upon the downwardmovement of the plunger, the left endof the lever will move upward and,the dog, being now held rigid with respect to the lever by means of thepin 85, will slide up the inclined face of the stop lever and force thesame to rotate in a clockwise direction around its pivot point, andcause the upper end to slide outward off the shoulder 74 of the meteringroller.

-As the stop arm 75 slides off the shoulder 74 the metering roller isreleased and begins to rotate permitting the tape to move forward and,down the front of the quotation board. As the metering rollers rotatesthe pin 59 comes against the inclinedface 61 of thelower portion of therack 31 and forces the rack 31 upward which simultaneously raises thedog 59 lifting the notched portion thereof from engagement with the arm27 of such one of the type sectors 12 or 13, as had been set intoprinting position. As soon as the arm 27' is released one of theretractable springs 33 connecting through the pawl arm ofthecorresponding type sectormagnet swings the sector out of printingposition into the position shown in Fig. 2 of the drawm s. r

y is the metering roller 56 continues its revolution theupper end of thestop arm 7 5 is held in contact with the inclined face 72 of the stopcam and follows the face of the cam as the same rotates with themetering roller until the upper end of the arm is again brought inengagement with the shoulder 74,

arresting the metering roller in this position. It will be observed,therefore, that the metering roller is automatically brought into actionatthe end of each printing operation and performs the two functions asoutlined above, that of unlocking either of the special type carryingsectors 12 or 13 that may have been set into printing position and ofpermitting, at the same time, a definite predeter-- mined amount of thetape to be fed out toward the front of the quotation board in order tobring the last printed quotation into view. 1

Referring to Fig. 6, we have shown another embodiment of our inventionin which both of the special type characters, H and L, are carried byone sector 90 which takes the place of the two sectors 12 and 13 in theembodiment already described. The sector 90 is provided with twoprotruding faces, 91 and 92 separated by a recessed portion. Upon thefaces 91 and 92 the characters H and L respectively are mounted. At theupper part of the sector 90 are provided two arms 27 which are arrangedto engage the notch 28 in the dog 29 as the type character disposedopposite the respective arms is tension 98 of the framework 17, and hasthe double armature 9697 formed on its outer end. A pair of magnets 101and 102 are provided for actuating the armatures 96 and 97 respectivelyto move the arm 94 up or down. The magnet 101 is arranged to beenergizedin response to the high range signal to attract the armature 96 andcarry the arm 94 upward to bring the face 91 hearing the character Hinto printing position, simultaneously locking the arm 27 in the notch28. As the arm 94 is moved upward it carries with it the outer end ofthe leaf spring 108 which bears on its upper side. Upon release of thesector 90 the spring 103, which was carried upward when the sector wasset in printing position, will now act to return the arm 94 to itsnormal or central position. This position is determined by pin 105 setin the framework 17 and arranged so that leaf springs 103 and 104 cometo rest on opposite sides of the pin thereby holding the arm 94 in anormal alignment with the pin.

A signal impulse received by the magnet 102 will actuate the armature 96and through the lever 94 act to set the L character on the face 92 ofthe sector 90 in printing position. To accomplish this the arm 94 swingsdownward carrying with it the outer end of the leaf spring 104 androtates the sector 90 in a counter-clockwise direction to a posi tionwhere the corresponding arm 27 of the sector engages in notch 28 of thedog 29.

ISfiith the normally closed contactsjllfito the high bus.line.1;l8.,Simultaneously, with the selec-'' tion of: the H; relay 111 the stoolsrelay-.1 19 will; be closed by other: signals in; the signal a typicalquotation Will now be described.

As an exa nple of atypical quotation We; Will mchoose thequotation shownin Fig.1 under the stock column A in, the third line from the to p whichis H273. InIFigfiSthe printingjrnechanisni is shown diagrammaticallyineonnection with the portion of the circuit gfiinthe systemrelatingpartieularly to a print.-

mg' 1 1 hik We have described. IThe three type wheels employed; forprinting the, nt. un t a d. rac on digits, of the quota-- i nars; repr sn d by the-co rol connnutar 20 rs i the hmrpmhon ofithe-diagram.

Y he yp w el, perating magnetsi 37 are 1 connected through "the 7coinmitatorsby mean of brush s .7- and. 4E8. The; pecial type:carryingsectors; are represented in the 25' "diag arnhy ac uatingmagnets 1.5 and the magnet. 1.5. repre s V and-the magnet .16 the Ltypesector.

For setting;- up; the. assumed quotation a I train o-signal impulsesvcomprisingthree SUTg ups are transmitted to the pr nting unit.

In -the; first'g-g group of impulses, in, the train an impulse Will be;transmitted to, the Ina-in igh and opens: the contacts 113. Thisconnects 11$ .pQtsnt aL-from the line-.1117; through trainte closethe'Inulti-contact switch 121.

The closing ofthis switch connectsthe hi gh.

busl e with' theauxiliaryl lirelay12,2. The

Hrelay lzgclosesthe switch: contacts128- f and- 12.4.. The los ng of;thecnnjtacts 1% arfigj t blishes. alocking circuit through the re:

lay; fnoin the battery 125. Through the 123the Httypefsector; actuatingmags; netl sconnected totheline 126.1 The. line ent 126: issupplierlwithbattery potential, from ibatterylQZ through the contacts operated byrela 128 which wasgactuated by means of a battery potential throughthecontacts of 1 the I rel vl29,'which was supplied with batterypotentiahfrombattery liZO at the time the lniultif-contact switch 121Was; closed.- The battery. potential supplied; fEOHl llllB. batteryliZZcausesgthe agctuatingmagnet 1-5 to bring 1 the-tyne sector-12,carrying the-H character,

H intoiprinting position, in which positionit is V locked,asheretoforedescribed, until after paint ng has bs nc-efiected-i ten "the-selector;group oztlsignals has.

7 beentransmitted v the restoration group, 01 I lows next; 1n that-rainofsign-a-l's; Signals:

iron; the restorat on-group are transmitted Y in the tvne sector relay111 which closes, the contacts .112.

I mem s.

from'the tens, units and fractions, bus lines through, the contacts" ofthe multi-contact switch 121 to the actuating magnets 3.7 of the severaltype wheel's. Eachof the type Wheels respond to the restorationimpulsesin. a similar manner and, thereii'ore Lt Wlllibfl SlllfiClQHt totrace the operation oi only, one

of the type Wheels. The fractions type Wheel willbe taken asan example.Let it beassumed' that the commutator d insteadof being in the positionshown in Fig. 8 which corresponds. to unison or blank'position, is in;

some other position. such as shown in Fig. 4'. Insucha casethe innerbrusht'? is in contact with the inner conducting 'seginent of commutatorand the circuit is completed through the; commutator shaft and thegrounded Wire1131 as shown," Let itibe assinned further that the typeheel andc01n- 1 mutator are set-With thenuineral'- in printin position.The first sevenof the ten res;- mason, impulses, comprising the.restoration signal group, steps. the type. Wheel around tobring thenumerals 5,. 6, 7,8, 9,. 0.

and the.- bl'ank portion, successively, 111 60. prlntlngpesition. 1Attheinoment the blank portion (ii -the. type Wheel reaches prlntl-ngposition the inner brush'? engages inwardly the pro ectlng sector oftheouter conducting segment ofthe commutator 46 which is insulat-edirointheinner groundedgsegment. The

outer segment is: un'grounded at this time, the

actuating ground v not:havingbeen applied,

consequently, the ground. circuit; from the magnet 1s interrupted andthe magnet remains.unresponsive during. the transmission'. of the; threeremaining impulses; Thetypewheel, thereforeyremains.set in itsunisonior:blanlrpositionatthe end oft-he trans mission: of the.restoration; impulses; In. like manner; thety'pe. Wheels forfprinting'the tens and. units .digltswlll be restoredto their re-- position they.might: haye'beeniset, leaving all three type. Wheels 1n". acorresponding post-- .tion, or in.otherwordslina unison position.

The answerzgroup of impulses follows the restoration group to.setthetypewheels with theproper digits in pr nt ng position. However,"before thetype wheels canbe moved from; their unison positionitvisnecessary to establish a ground circuitfertile-magnets.

This is accomplished by means of a relay notshown, Wlnch connects the.Wire 134to the actuating grounder to a grounded contact; Thisestablishes a ground circuit from the magnets throughthebrushes fl, theouter segmentsoi the commutatorsf-lfi, and the brushes-48;which areconnected- 50 the line- 134. Actuating ground'is"applied'just before g iilLheObSc ed bykreference to Fig: 8

; spectirv'e.blankpositions froniwhateyer prior 7 the answer group ofsignals are transmitted. I As a result, as soon as the answer signalsbeginthe several type wheels Willbe stepped dv by 11162111801?thegactuating magnets thateach'of the magnets is provided witha 1 innerbrushes 4.7 are again brought in contact with the inner grounded segmentof the commutators and will thereafter be grounded through thecommutator axes and the grounded wire 133.

i For setting up our assumed quotation- H27 .3, three answer impulsesare transmitted to the stepping magnet of the fractions type wheel whichsteps it around to place the digit 3 in printing position. Similarly,seven 1 answer impulses are transmitted to the units type wheel to stepit around to place the.

digit 7 in printing position. Two answer signal impulses are transmittedto the tens type wheel to set the digit 2 in printing posi tion. The Hcharacter having been set into printing position by the rotation of theH i type character as described above, the printing unit will have beenset up to print the assumed quotation. I i The printing operation isaccomplished by the platen 63 being brought up against.

the faces of the type characters to. simultaneously print all thecharacters on a suitable paper tape. The actuation of the platen isbrought about by means of the completion of a prepared circuit, whichtakes place upon the release of stock relay 119, accomp'lishcd at theend of the transmission of the train of signal impulses. The circuit wasprepared at the beginning of the transmission of the quotation when thestock relay 119 closed the multi-contact switch 121,

thereby actuating relay 131 by applying battery 132 thereto. Theactuation ofrelay r 131 connects its tongue 135 with the line 136 r toapply battery 129 through relay 128. When relay 128 is actuated itcloses contacts 137 and 138. The closing of the contact 138 establishesa locking circuit from batteryv 11427 through the relay to the ground.The

closing of the contacts 137 establishes a ground circuit through thewindings of the platen actuating solenoid-66. The other wire leading tothe solenoid'66 normally connects a through the tongue 135 to battery129. However, when the relay 131 was actuated and tongue 135 connectedwith. the wire 136, the circuit from the solenoid to the battery wasopened. On the other hand, at the end of f the transmission of the trainof signal inipulses when the relay 131 isreleased, the circuit isreestablished to the battery 129 and,- ground having been applied'to theother terminal of the windings of the' solenoid 66,

the solenoid is then actuated to raisethe plunger and bring the platen63 with the interposed record tape up against the :face of the typecharacters to effect printing. The quotation having been printed thesolenoid is deenergized to permit the platen to lower again to itsnormal position. This is accomplished by interrupting the circuitthrough thesolenoid windings and battery 129. A switch 139 is providedin the holding circuit for the relay 128 and means are provided for theplunger 65 to open the switch and release the relay 128 as the plunger65 makes its upward stroke. The release of the relay 128 opens thecontacts 137 which interrupts the ground circuit to the solenoid,thereby disconnecting the battery 129 and opensthe contacts 138 whichinterrupts the holding circuit of the relay 128 at another point tomaintain the circuit open after switch 139 is permitted to close as thesolenoid plunger returns to normal position.

The platen having made its upward stroke to imprint the quotation on thetape and returned to normal or rest position, there remains theadditional operation of releasing the type sector which was set inprinting position by the actuating magnet 15, before the printing unitis in condition for the reception of the next train 01": signals forposting the succeeding stock quotation. This release 1S accomplished, asalready described,

manner, as just described in connection with a quotation including theletter H. For printing a quotation including L, the main L relay 114.will be actuated to apply poten tial from the line 110 through normallyclosed contacts 113 and contacts 115 closed when the relay was actuatedto the low bus line 120. From the low bus line 120 the auxiliary L relay141 is actuated, applying a locking circuit for the former throughcontacts 142 and connecting the line 126 through contacts 143 with theactuating magnet 16. As already explained in connection with theactuation of the auxiliary H relay 122, the line 126 has batterypotential applied thereto which energizes the actuating magnet 16 to setthe L type sector into printing position. The setting up of the type thequotation and the printing operation will be accomplished in the samemanner as described in connection with the quotation assumed above.

The quotation of a printing unit embodying the modified form of thespecial type carrying element shown in Fig. 6, will be identicai, sofair the circuit operation: is: con;--- cerned, with tliatjnstdescribed! in connection:

} the preferred form on our: invention Theactuating magnets and 16'will. be re= placed! by the actuating magnets Hill and! 1025,

g be-eniplbyeda l t-is obviousalsothafi the spe'* cia-ltype sectors neednot be limited toone or'onepai'r; but that aprin'ting unit may beequipped. with; any desired number of spetures'of the printing unit. HFronrtlie foregoing description'of ouraln Venti'onf it will be observedthat We have (1e:

vised apri'nting' unit arranged to print cliar i v asters whichwilldesignate tllfll lgh l, low a0 7' bid or ask, or other specialquotations as theyo'c'eur in the stock sales orother'com modity reports;and; bythisinean's5 enablethe printing;- unit to display other" inf0rna-' n tionin additionto thewtrend ofa stock or f'coin'nioditybeingposted. In this manner.

quotation boards are, rendered more effective and more completeto betterenable an'observe to associate the immediate-trend or" 'v stock with theprogressof the days quotatiOnS; i

' Also it Will; be apparentthatg'whendesirable, the designatingcharacters'inay be selectively printed as apart of certain uotaf ,tionswhich arebeing posted or the quotat ons may beprintedwith the charactersomitted;

In addition, it' will apparent that We" have devised aprinting, unitwhich twill: set upthe Wliole of-tlie quotation, inclizdirigtliespecialtypefoharacter when melt is to be quotation on a re-cord tape;resulting iii an extremely rapid stock quotations. I p

it is obvious thatflour inventionf may be.

utilizedto print anyother character- Having any special significanceinsteadof or in addi tioii to the characters stated heretofore; and

it will further- ;be apparent" to i those skilled .inthe art that while-We liave'shown ourin yention as embodied iirandappliedto arprintingunit, the'principl'es set forth mightbe embodied in a }unit utilizingindicator whee-ifs or-iotlier means :to' displaythe type acharacters-to; direct iew. instead of inpri nt ed-form; r it i(rial-sectors by-suitably inodifying'thestir-ud V printed; andsimultaneously prin the Whole mechanism for printing" menses;

Whziie 'WBhHNBZ shown our? invention. in buff two; forms, itwilll be:obvious: toithose skilled? in theant thafiitisnot so limited but issueceptiiile: to various other changes and modifficafiions Without?departing from: the spirit" tliereofgi and We desire,- therefore, thatonly such limitations shall be placed thereon: as areinip'osediby'priorarfi or asspecificallyset forthin theappen'ded claims;r

We claim as 1 our: invention In an: indicator system, the c oinbinati'onofl a setof char ao'ter carriers, including one or more oari'iersoarryingnumerical'chai acters and at least one special charactercarrie'n; independent means to operateea'ch characte'i canrier in'response toelect'ric signal impulses; means 'toselectively operate 1 Vthe numerical clia'r ac'ter carriers alone-to form' the combination ofindicator means actuated by" successi e trains of" impulses't'o'disp'lay theserie's of items, andindicatordneansl actu'atedtheselectively included signals to indicate the additional information.

3'3-Iniqu0tation board systems,- a printing" 7 unit for printing;quotations and embodying 1n" combination, means arranged for printingcharacters"to represent the quantity value of? the 'quota'tions;andmeans arranged'to selec tiyely print, inconnectionwith certainquotmtions; one 'of'a plurality ofspecial characters todesi fate"a" qualityvalue of the-quotatioiis i 4'; In quotation boardf systems, a; printingunit; fmrpfinung; successive quotations in'i consecutiveorderpn apapertape orother material; said "printing unit embodying-1f means;including one or more? type, Wheels" operable; in response to"telegraphic signals forprintingffnumerical characters to repre sent thequantity value of a .quotatiom and means provided independent. of thetype Wlieels'and" operable in; response to. special telegraphic" signalsfer selectively printing olie 'oit' 'a; pluraiity of special charactersde signe'dito' designate a; quality value of the quotation."

51 I "xp otation board, apparatus for dis-j "bidfl .ask, or other saecial values for the" dayf n connection with the displaylngjof' hqnotationsoff a plurality of. commodities, a: printing mechanism"embodying means for displaying consecutively" in printediform tlie forselectively printing a character in connection with the printing of thequotations occur. i

\ ,6. In a quotation boardsystem for dis-- playinga range of values'fora plurality of 'commoditiesin response to atrain of tele--graphic-signal impulses embodying signals to identify certain values,a'printing mechanism, said printing mechanism embodying means fordisplaying the values in printed form in consecutive order asthey.occur-during the day, and means 'IQSPOIISlVGftO the identifyingimpulses accompanying the high and low values for printing a characteralong with the value which will inclicate whether it is high or low.

7. In quotation board apparatus for displaying the range oit' values forthe day of a plurality of commodities, a printing mechanism embodyingmeans for displaying consecutively in printed form the values as theyfo'ccur during the day, and means embodied in the printing mechanism forselectively printing symbols simultaneously with the range values astheyoccur.

8. In quotations board systems, a printing unit for printing successivequotations in consecutive, order on a paper tape or other printing ofthevalues to designate certain material, said printing unit embodying meansincluding one or more type wheels carrying numericalcharacters, andoperable in response to telegraphic signals for printingthe value of aquotation, and means for supporting various symbols or letter charactersindependent of the type wheels and operable in response to specialtelegraphic signals for selectively printing these symbols to designatethe range or indicate other information about certain quotations.

9, In a quotation board printing unit having type carryingmeans to setup quotations to be printed,the combination-of an auxiliary typecarrying elementarranged to be moved into and out of printing posltlon,a prmtmg i. mechanism, means to operate the printing mechanism to prmteach quotation as set up,

' means to normally'hold the auxiliary type i carrying element out ofprinting position,

and electromagnetmeans operative to bring it the auxiliary type carryingclement selec tivelyinto printing position.

7 10. In a quotation board printing unit having type carrying means toset up quotations 7 to beiprinted, the combination of a pair of auxiliart ecarr. in telements atv e char- *acter carried by each of saidelements, a

printing mechanism, meansto operate the printlng mechanism to print eachquotation as setup, means to normally hold the auxiliary type carryingelements out of printing position, and means operative to bring either7' of the type carrying elements selectively into ;.printing position. i

11. In a quotation board printing unit, one

or more type wheels disposed to print the of telegraphic signal impulsesfor rotating the type wheels into printing position, and means includinga movable bar carrying symbols and operable in response to specialimpulses in the group to selectively print one of the symbols as a rangedenoting character in the quotation.

12. In a printing unit for quotation boards, the combination of a typecarrying element, two type characters carried by said element, aprinting mechanism, means to operate the printing mechanism, means tonormally hold the type carrying element with both of the type charactersout of printing position, and means selectively operative to effect thesetting of either of the type characters in printing position duringcertain operations of the printing mechanism.

13. In a quotation board printing unit for displaying successivequotations in response to corresponding trains of impulses, thecombination of one or more type wheels disposed to print the numericaldigits of the quotation, means operable in response to each train ofimpulses for rotating the type wheels into printing position, a pair ofmovable bars each carrying a character thereon and each disposed toprint the character thereon as a range denoting part of the quotation,and independent means associated with each of the bars selectivelyoperable in response to signal impulses optionally included in thesignal train to cause a predetermined one of the bars to print thecharacter thereon.

14. In a printing unit, a pivotally mounted type carrying member, a typecharacter carried by said member, said type carrying member beingoperable to move the type character into printing position, means tonormally hold the member with the type character out of printingposition, means responsive to,

telegraphic signal impulses to set the type member with the typecharacter into print ing position, means to effect printing, and meansoperative after the printing operation to release the type member andpermit the,

same to return to normal position.

15. In a quotation board printing unit, one or more type wheels carryingnumeral type characters, means independently associated with each typewheel and responsive determined range denoting character in print rugposition, means. to effect printin and meansinitiated by the printingoperation to restorethe-sector to normal position,

. 1.6; In. a quotation board printing unit, one orv more type Wheel-scarrying numeral type characters, means independently associated witheach type wheel and responsive to a I group of quotation transmittingtor :rotating the type wheels to. bring selected characters intoprinting position, a pair of piyotally mounted sectors each carry-mg arange denoting character and-each-being pivotal'ly mounted and arrangedto be independently set into printing position, means to nor mally holdthem out of printing position, and actuating means associated e ach sec-1 tor operable response to certain signal im- -pulses in the gronpwtoselectively set either of the sectors in printing position, means toetfect printing, and means rnltrated upon completion of the printingoperation to release the sector and perm-it it position.

to return to; normal 17;. In a quotation board printing unit, operablein response to. a train of telegraphic wsi-gnal i-mpnlses to print aquotation, means 7 for supporting a special type character adapted toibeprinted :asapartot the quotation in such a manner that the same m-ay beset into and out of. printing position, means for holding the typecharacter normallyaout of print ing position, means operable in responseto one of a predetermined set ofselective signal impulses'which beincluded optionally in the impulse train for setting the type characterinto printing position, means to effect printing, and means to releasethe type characterfrom its printing position and permit the same toreturn to its normal position.

118. a quotation board printing unit,

operable in response to a train of telegraphic signal impulses to printa quotation, means f'o'r supporting a plurality of special typecharacters adapted to be printed optionally-as a part of the quotation,means for settingany one of the special type characters into print- 1ing position, means for holding; the type characters ina normalnon-printingposition, means cooperating with each special type characterfor operating the setting means in response'to one ofla'set of selectivesignal impulses which may be included-optionally in the signal train, toeilect printing,

' and means to'rel-ease the type characters from printing position andper-mitthe same toreturn to normal position;

. 19; In a printing unit, a pair of'piv-otally mounted type carryingmembers each carrying a special type character, said members beingoperable to be set i'nto printing position,

means'to normally hold thetype characters *in'a non-printing position,means associated with each type carrying member. selectively responslvetotelegraphic signalimpulses to mas-585 set the type: membersintopriiitingaposition, means to. lock the type memhersias they are setin printingposition meansztaefiectsirmting, and means initiated uponcompletion of the printing operation tomelmse the type, carrying membersandpermit the Wire turn to normal'position.. 1

for quo at on 203; In a printing boards, the combination eta type amylng-elie1nent,,a printing-mechanism, meanstoop,

crate the printing. mechanism, 'retrantible means to normally; hold thetype carrying element out of printing position, an eleeimomagnetoperative by current to set the type carrying element nt ing position,means; to; lockthe type; car-ry- 7 ing element. againstindependently easaid seiecttngcurrent pu se and maintain the. same imprinting positionduring. the. period in. whichpmntimg: eh I fectemandmeans initiated atthe end oi the printing operation to. unlock the type-:mry-

element and to permit 3 return tonormal position,

21.. In a emcm i unit miaaaa the combination of a pair-0fpivoti-llymfiflmied type carrying-elements, a printing mechanism, meanstoopenategthe. printingmeeha nism teefiiectprinting, independent tihlemeansto. hold each of-thetype. 1

elements in a normmlnon-printingelectro-magnet operatively connectedwith each type element. insetthe same in printing position in responseto. siagnal impulses; selectivelyv included 7 a group.

of signal impulses, adapted to operfllie. the printing mechanism, means.brought. eagagement. with each typecan'ying elemcnt'as it is set; intoprinting position tor-mistakinot ing the same in position duringoperation of the printing mechanism, and means. to unlock the lockingmeans upon completion of the operation ofthe .printing meohanism forpermitting theretractible-means to return the type carrying elements.normal position I s I V In quotation hoard systems; a. printing unitforprintingquotationsand embodying, in combination, means arrangedforprinting characters to represent. the yalueof. qua

tations, and means arranged to selectively print, in connection withcertain quotations,

one of a plurality of special characters to indie ate additionalinformation concerning the quotation.

23. In a printing nnitifor. quotation boards, the combination of anelement carrying one or more .special'typecharacters, a printingmechanism, meansto operate the printing mechanism, means to normally-.set. the type to print a special type character, and means operativetoautomatically reset said element and said mechanism out of printingrelation before the next printing operation.

24. In a printing unit for quotation boards, the combination of a typecarrying bar, a type character carried by said bar, a printingmechanism, means to operate the printing mechanism, means to normallyhold the type carrying bar with the type character out of printingposition, means selectively operative to efiect the setting of the typecharacter into printing position during certain printing operations, andmeans for automatically returning the type character to its out ofprinting position after printing therefrom has been effected.

25. In an electrical indicating system, the combination of a printingunit embodying a set of type carrying elements, including one or moretype wheels carrying at their periphery a series of regular typecharacters, and a special element carrying one or more special typecharacters, electro-magnetic means for operating each of said typeelements, circuit closing means for rendering the operating meansresponsive to certain" restoration impulses in a train of signalimpulses to operate the type wheels, circuit interrupting means forcontrolling the response of the operating means to stop the type wheelscarrying the regular characters in a predetermined unison position,control means operable in response to impulses selectively included inthe train for causing the operating means of the special type carryingunits to move the same to a position displaying a predetermined specialtype character, means operable to render the operating means of theregular character type Wheels responsive to answer impulses in thesignal train for advancing them to a position which will displaypredetermined regular type characters, and means for rendering thespecial type carrying elements unresponsive to the answer group ofimpulses.

26. In a printing unit for quotation boards, a main type carryingelement, an auxiliary type carrying element, a platen, means forinvariably bringing the platen against the main type carrying elementand means for effecting engagement of the platen with the auxiliary typecarrying element during selected printing strokes.

In testimony whereof we afiix our signatures.

RAY HOOVER. EVAN R. WHEELER.

